Tether To Launch 2 Stablecoins Backed By Euro And Gold On SimpleSwap

Customers of SimpleSwap may now swap for or buy two stablecoins from the inventors of USDT. Customers may now buy or trade for XAUT, a stablecoin that reflects ownership of genuine gold and has long been seen as a hedge against inflation. Moreover, the introduction of EURT on SimpleSwap provides clients with access to the Euro-pegged stablecoin from the stablecoin firm that has never denied a legitimate redemption request in its existence.

Euro #Tether (EURT) and #Tether Gold (XAUT) To Launch on SimpleSwap @SimpleSwap_io https://t.co/xKI9hKEC5X

— Tether (@Tether_to) April 7, 2023

Paolo Ardoino, CTO at Tether stated:

“We are certain that customers trading on SimpleSwap will be thrilled to have access to products that are backed by the company behind the first, largest, most liquid, and most widely used stablecoin in the world.”

SimpleSwap is a Marshall Islands-based quick crypto platform. The platform was developed in April 2018 with the goal of making the exchange procedure simple and free of difficulties or constraints, i.e., users are not needed to register or sign up on the site. Traders may simply go to the website or launch the app, input the transaction information, and complete the transaction.

SimpleSwap is a cryptocurrency exchange that allows users to sell existing crypto assets or acquire new assets for fiat currencies. It offers over 600 cryptocurrencies.

To facilitate quick currency trades with no deposit storage, the SimpleSwap trading system is incorporated into the main crypto exchanges. Users of SimpleSwap do not have to worry about selecting the most lucrative exchange rate since the system searches 15+ trading platforms and exchange partners, including OKX, Bittrex, and Binance, to discover the best exchange rates for them.

SimpleSwap, in addition to trading, provides a lightweight crypto wallet that can be accessed through a browser plug-in. SimpleSwap’s mobile app is available in 10 languages and is accessible on both iOS and Android.

According to a recent Bloomberg report, Tether did not have direct access to the US financial system, but new evidence suggests that Signature banking has been utilized to avoid the legislation.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Source